The conference was hosted in both online and offline forms.
According to reports of the Ministry of Finance, accumulated for the first six months of 2024, the total state budget revenue gained more than VND1,038,000 billion (US$40.7 billion), equaling 61 percent of the year quotation, increasing 17.7 percent over the same period last year.
In addition, the total state budget spending reached nearly VND804,000 billion (US$31.5 billion), equaling 37.9 percent of the 2024 quotation.
Besides, the balance of state and local budgets has been ensured.
By the end of June 2024, the Ministry of Finance issued Government bonds with a value of over VND156,000 billion (US$6.1 billion) with an average maturity of 10.89 years and an average interest rate of 2.33 percent per year to timely ensure payment for principal of due loans from the central budget and contribute to orienting market interest rates.
Speaking at the conference, Minister of Finance Ho Duc Phoc praised the efforts of the financial sector on excellently fulfilling its missions on finance and State budget in the first six months of the year.
Minister Ho Duc Phoc expressed that the positive achievements were huge efforts of the financial sector, especially in the context of uncertainty in the world with various arising difficulties, challenges together with strategic competitiveness of powerful countries in the world, escalating military conflicts; fluctuations on prices of gold, gasoline, raw materials, goods and sea freight putting pressure on inflation and global growth.
On the domestic market, the total consumption has recovered slowly, business production of some sectors has faced difficulties, high pressure on inflation due to the fluctuation of foreign currencies exchange and adjustment of electricity price and salary.
At the conference, Deputy Director of the Ho Chi Minh City Department of Finance Tran Mai Phuong also reported the revenue and spending of the city in the first six months of the year. Accordingly, by the end of June 30, the total budget revenue of Ho Chi Minh City reached more than VND267,000 billion (US$10.5 billion), equaling 55.38 percent over the year quotation, increasing 17.31 percent compared with the same period last year.
On the other hand, the State budget spending of the country's economic hub in the first six months gained nearly VND32,000 billion (US$1.3 billion), reaching nearly 22 percent over the 2024 quotation, surging nearly 19 percent over the same period of 2023.
In addition, the spending on investment and development has been nearly VND9,700 billion (US$380 million), reaching nearly 13 percent over the year quotation. Although the spending for investment and development of HCMC has been low, it bounced over 91 percent over the same period of 2023.
Therefore, regarding the contribution rate, in the first six months of the year, the budget revenue of Ho Chi Minh City has contributed nearly 26 percent to the total State budget revenue of the whole country.
